Reinsurance Financial Associate

Zurich North America is currently seeking a detail-oriented Reinsurance Financial Associate to join our Assumed Reinsurance Team. This position will report to Reinsurance Financial Supervisor within Reinsurance Finance and Recoveries department. You’ll be part of a collaborative team that plays a key role in supporting Zurich’s risk strategy by ensuring accurate execution of assumed reinsurance transactions and partnering across finance, actuarial, underwriting, claims and global reinsurance teams.

 

This position is based in Schaumburg, IL North America Headquarters and will follow a hybrid work schedule, with in-office days coordinated with your manager to support collaboration, business need, and your personal flexibility. 

 

The Reinsurance Financial Associate position is responsible for: handling assumed reinsurance premium & loss accounting, preparations of statements of accounts, settlements, collection of open balances, cash application in general ledger and subledgers, reconciliations and analysis for proper accounting and reporting, intercompany reconciliation (ICR) coordinating with Zurich Affiliates and Trading Partners. The position also analyzes basic reinsurance contracts, identifies, and codes reinsurance, handles reinsurance claims of low complexity, performs basic to intermediate reinsurance accounting transactions and financial reporting ensuring compliance with terms and conditions of the reinsurance agreements and department standards.

 

Additional responsibilities include:

 

• Identify, calculate, record, report and settle premium and loss reinsurance in relation to contract terms and department standards. Includes handling and collection of reinsurance claims of basic to moderate complexity
• Reconcile basic to moderate detail reinsurance related activity, identify issues, coordinate resolution, and take corrective actions as directed. Update financial and underwriting and/or claim systems, accordingly
• General Ledger account reconciliations and reporting
• Preparation of reinsurance journal entries
• Lead relationship and communication with internal Zurich business partners and external reinsurance customers within area of responsibility, including timely response to all external inquiries as prescribed by department standards
• Prepare and analyze internal and external reports in accordance with regulatory and/or departmental guidelines. Analysis includes reviewing for trends, anomalies, and reconciliation to key data sources
• Responds to basic internal and external audit inquiries and supports on-site reinsurance audits.
• Documentation of procedures for assigned accounts and tasks

 

Basic Qualifications:

 

• Bachelors Degree and No prior experience required in the Reinsurance area
  OR
• High School Diploma or Equivalent and 2 or more years of experience in the Reinsurance area

 

Preferred Qualifications:

 

• Insurance industry experience
• Knowledge of reinsurance contracts
• Knowledge of reinsurance accounting
• Knowledge of reinsurance claim recoverable process and link to direct claim processing
• Prior experience to include a combination of accounting, reporting, insurance, reinsurance, and financial analysis.
• Intermediate level Microsoft Office skills experience (Excel, Word, Outlook, etc).
• Technology experience related to one or more of the following areas: General ledger, financial reporting systems
• Strong verbal and written communication skills
• Ability to interact with the business unit and customers, utilizing strong interpersonal skills and communication skills.
• Ability to work independently and interact effectively as part of a team
• Strong time management skills to timely deliver on competing priorities

 

 

Your pay at Zurich is based on your role, location, skills, and experience. We follow local laws to ensure fair compensation. You may also be eligible for bonuses and merit increases. If your expectations are above the listed range, we still encourage you to apply—your unique background matters to us. The pay range shown is a national average and may vary by location. The proposed Salary range for this position is $58,800.00 - $96,300.00, with short-term incentive